BMO Capital analyst Keith Bachman downgraded Smartsheet to Market Perform from Outperform with a price target of $56.50, down from $59, after the company announced an agreement to be acquired by Blackstone and Vista in an all-cash transaction valued at $8.4B. “While we don’t think the purchase price is aggressive, we nevertheless think another bid is unlikely,” the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMAR:
- Smartsheet downgraded to Market Perform from Outperform at William Blair
- Smartsheet downgraded to Neutral from Buy at DA Davidson
- Smartsheet downgraded to Hold from Buy at Jefferies
- Smartsheet downgraded to Hold from Buy at Needham
- Smartsheet downgraded to Equal Weight from Overweight at Wells Fargo